The number of searches taking place on desktop devices is increasing as the current pandemic unfolds, says Microsoft Advertising’s Corporate Vice President, Rik van der Kooi.
Speaking at Microsoft’s Elevate online event on Tuesday, van der Kooi said that he’s “seeing that [desktop is] the device of choice when people have the choice.”
Touching on the financial services sector specifically, van der Kooi highlighted that with interest rates currently low, ‘refinance’ search queries are on the rise.
This data is confirmed by Google Trends which shows “refinance” searches at an all-time high.
Speaking specifically in relation to Microsoft Advertising’s paid media solutions, van der Kooi said, “there are opportunities right now at lower CPAs (cost per acquisition) than before, as some advertisers are either dropping out or lowering bids.”
Analysis – Self-serving but nonetheless true
Rik van der Kooi’s job is to promote Microsoft Advertising’s services, so it literally pays him to promote the current economic situation as an opportunity for marketers.
That said, he is right. Firstly, the data suggests more people are carrying our more searches online for key topics.
Secondly, the fact that Microsoft is seeing the share of searches coming from desktop devices increasing is telling; it suggests that consumers, staying at home, are using new-found spare time to carry out more in-depth online research.
Combining these with a possible trend for brands to cut marketing spend at this time and significant gaps in the market open up.
Rik van der Kooi suggests in his presentation that the rules that govern bricks-and-mortar vs online brand interaction could be shifting further to online and staying that way after the pandemic sounds a fair warning that the brands who will come out looking best are the ones who capitalise on their online presence now.